A common question and legitimate concern for residents with mortgage problems is, how to get money to move after short selling their homes.
Our team here at the Gregory Real Estate Group have done our research and have several viable options to help our Southern California short sellers when they need it most.
Our primary goal is to help our our clients successfully short sale their homes, walk away with a fresh start and money in their pocket to help cover their relocation costs.
One of the reasons we can usually help our clients get money to move after short selling is because we have a good deal of experience and success with short sales. We are also CPDE Designated as Short Sale experts since 2010.
Currently we have multiple sources of assistance to offer our clients to get money to move after their short sale.
Two options are available through state or federally funded assistance programs, and the third option is exclusive for our customers only. All totaled, the benefits can be worth up to approximately $7500 depending on the home sellers specific circumstances.
Qualifying homeowners could receive up to $5000 in move money by taking advantage of the California Transition Assistance Program and HAFA. Yes, it is allowable to combine both programs and it's not especially difficult to qualify.
With the Transition Assistance Program, distressed homeowners must stay in their home and continue to maintain it until they move after the short sale transaction. Also, the home must be their primary residence.
There are other requirements but those are the two mentioned above are the primary qualifications.
There are other qualifications and never any guarantees, but if sellers apply for the assistance, can prove hardship and follow the guidelines, they will likely be approved for the additional relocation assistance.
Conditions to Get Money to Move after Short Selling from Government Funded Programs
In order to qualify for TAP assistance we must:
- Apply for the funds through the state's website or by calling them directly. Homeowner's may also do this themselves, but as a courtesy we assist our clients with this.
- Distressed homeowners must continue to occupy and maintain their property until their house is sold or returned to the lender via a negotiated deed in lieu of foreclosure.
- Prove Hardship. This will also be necessary for the lender to approve the short sale.
- There are other requirements, but we can help with that as we move forward with the short sale.
Gregory Real Estate Group Professional Negotiator Assistance
We have been helping homeowner's avoid foreclosure for many years and we always use a professional bank negotiator to work with the lender on your behalf. It's not uncommon for us to convince your lender to give a little cash back to our seller to help them get a fresh start.
There's no qualifications required other than selecting us as your Realtor, and your home should be located within our Los Angeles County service area.
Recap of of How to Get Money to Move After Short Selling
If our short selling clients are successful obtaining approval for all assistance available, that could amount to a decent bit of relocation dollars to help get a fresh start. Usually, HAFA will come through with $3000. Then, if able to obtain the $2000 from TAP that will equal $5000. Then, you add the value the cash back from your lender and the grand total could have a value of over $8000!
Remember, when short selling your home you'll need an agent and broker with the training and experience to increase the likelihood of your success. With a long track record of successful short sale transactions, you can rest assured in choosing us as your short sale team. The Gregory Real Estate Group is an independent broker and a family of realtors always ready to take immediate action to help you short sale your home.
The longer you wait, the less your chance for success. It's very important we get started right away so please contact us today at 661-713-4799.
We welcome your comments and hope you enjoyed learning more about how to get money to move after short selling their homes.